Senate minority Whip John Thune (RS.D.) and Republican senators Richard Burr (NC), Mike Braun (Ind.), Bill Cassidy (La.) And Roger Marshall (Kan.) Introduced the bill, which is called “Stop the Reckless Student Loan Actions Act” on Wednesday. “As Americans continue to return to the workforce for more than two years from the onset of the pandemic, it’s time for borrowers to resume repaying their student debt,” said Thune, the No. 2 Republican in the Senate. “Taxpayers and working families should not be responsible for continuing to bear the costs associated with this suspension of repayment. “This common sense would protect taxpayers and prevent President Biden from suspending federal student loan payments indefinitely,” Thune said, adding that ” ». The bill comes as a growing number of Republicans launch attacks on Democrats and the Biden administration over the continued suspension of student loan payments, especially as the crucial by-elections approach. For months, Democrats have come under increasing pressure to show progress in pushing leaders and party members seeking widespread student debt relief, often pointing to issues such as the impact of the pandemic on the economy, long-term problems in the student loan system and disproportionate burden faced by colored borrowers. For their part, more Republicans have spoken out against the termination of student loans, arguing that the moratorium is unfair and further burdens taxpayers, while also benefiting high-income borrowers who are able to pay their debts. In a press release Wednesday, Republicans said that while the new bill would end Biden’s “inappropriate suspension of repayments on appropriate federal student loans,” “it will allow the president to temporarily suspend repayments for low-income and low-income students.” future national emergencies “. The bill, the statement added, “will also prohibit the president from canceling outstanding federal student loan obligations due to a national emergency.” “The majority of Americans do not have college degrees,” Braun said. “Why force a college diploma in the name of pandemic relief? “This transfer of wealth is not a ‘cash advance’ move, but rather a taxpayer donation to appease far-left activists.” The moratorium was first implemented under the Trump administration at the start of the coronavirus pandemic in early 2020 and has since been extended six times amid pressure from voters and Democrats pushing Biden for further action on student loans. The issue has become more important to voters over the years, with the number of student borrowers rising sharply over the past two decades. According to data from the Congressional Budget Office, federal student debt increased sevenfold from 1995 to 2017, from $ 187 billion to $ 1.4 trillion. Warren introduces legislation to deal with civilian casualties from military operations. The Federal Reserve estimated last year that about $ 1.7 trillion in student loan debt had been raised by borrowers nationwide. During his campaign, Biden called for a pardon of at least $ 10,000 in federal student loans per person. However, other Democrats, including Senate Majority Leader Charles Sumer (DN.Y.), pushed him to $ 50,000 per borrower or cancel the debt entirely through executive action. Earlier this month, White House spokeswoman Jen Psaki said Biden’s use of enforcement measures to cancel some federal student loans was “still on the table” and that a “decision” could be made later this year.
